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Newpaper24 - Global online News around the World xiaomi-says-no-plans-to-raise-smartphone-prices-in-india Xiaomi says no plans to lift smartphone costs in India, Expertise Information, ETtech - NEWPAPER24  Newpaper24 - Global online News around the World xiaomi-says-no-plans-to-raise-smartphone-prices-in-india Xiaomi says no plans to lift smartphone costs in India, Expertise Information, ETtech - NEWPAPER24

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Xiaomi says no plans to lift smartphone costs in India, Expertise Information, ETtech – NEWPAPER24

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Xiaomi says no plans to lift smartphone costs in India, Expertise Information, ETtech

2018-02-15 03:56:16

India’s main smartphone maker Xiaomi is not going to enhance the costs of its current cell phone fashions regardless of wafer-thin margins, benefiting native customers who would in any other case have needed to pay extra after North Block raised the levy on element imports within the Federal Finances.Xiaomi, which dethroned Samsung to move the India leader-board for 2 consecutive quarters, plans to maintain its management by launching six to eight cellphone fashions this yr, moreover the Mi TV, for which is it exploring native manufacturing.

It additionally expects offline gross sales to make up 30-40% of its total income by the year-end, from round 1 / 4 at current.

Manu Jain, managing director of India operations and international VP, mentioned that the Chinese language smartphone maker — it launched two new smartphones Mi Notice 5, a world first Mi Notice 5 Professional, and its widespread Mi TV in India on Wednesday — was engaged on a plan to soak up the influence of the rise within the import responsibility on elements. To make certain, Xiaomi makes 95% of its cell phones in India by way of Foxconn’s India arm.“We’re engaged on a plan which can hopefully be certain that we cannot have to lift costs. In fact, we do not have the margins however we received’t enhance costs,” he mentioned, whereas supporting the federal government’s transfer that was geared toward strengthening the Make in India programme.

“We will certainly think about native meeting as soon as they attain a sure threshold. We must take two issues into consideration; one, whether or not the size can justify the monetary funding that both us or our companions make, and two, whether or not the sort of know-how we have to make the TV right here could be constructed,” Jain highlighted. He added that the corporate might think about its current companions right here, or firms akin to TCL that manufacture the TV-sets in China.

As a part of the Union Finances on February 1, the federal government elevated the import responsibility on chargers, adapters, battery packs, microphones, wired headsets, keypads, antenna, aspect keys, and USB cables, from both 7.5% or 10% to 15%.

Xiaomi doesn’t make cell phones or different merchandise by itself however has partnered with contract producers Foxconn and Hipad Expertise, for making smartphones and energy banks, respectively. Xiaomi added that it was taking a look at native manufacturing of Mi TV in India provided that responsibility on elements used for assembling TV panels have been additionally raised within the Union Finances.

Jain didn’t touch upon whether or not the corporate was evaluating sourcing native elements, however mentioned that the Indian market was prepared for a better stage of element manufacturing akin to assembling printed circuit boards and worth addition, owing to the truth that it was the quickest rising smartphone market on the planet. “If not in India, then the place… the volumes are incentives sufficient.”

“From a long-term perspective, this transfer is nice for India as a result of it’s going to be certain that lots of people begin manufacturing regionally and never simply assemble right here, however add worth by shopping for native elements,” he added.

Mi TV, which can start promoting throughout on-line and offline channels from subsequent week, is being imported at current. The corporate mentioned that its mannequin might be to disrupt the TV phase in India, simply the identical manner it did in smartphones. The TV market in India — at 10-12 million items, of which solely 10% is on-line — was just like the smartphone phase. About 33% of India’s smartphone market now could be by way of on-line channels together with Amazon, Flipkart, and different Internet-commerce firms.

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Robots could have full consciousness in 5 years, says Humanoid Sophia creator, Expertise Information, ETtech – NEWPAPER24

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Newpaper24 - Global online News around the World robots-will-have-full-consciousness-in-five-years-says-humanoid-sophia-creator Robots could have full consciousness in 5 years, says Humanoid Sophia creator, Expertise Information, ETtech - NEWPAPER24

Robots could have full consciousness in 5 years, says Humanoid Sophia creator, Expertise Information, ETtech

2018-02-20 09:30:50

It’s anticipated that machines might be alive and have full consciousness in 5 years, stated David Hansen, founding father of Hansen Robotics and humanoid robotic Sophia.He added that relating to robots, the dialog typically veers in the direction of concern, however we have to have a dialogue about moral behaviour.

Hansen was talking on the World Congress on Data Expertise and Nasscom India Management Discussion board in Hyderabad on Tuesday.

Additionally current was robotic Sophia who flaunts Hollywood Actress Audrey Hepburn seems, could make eye contact and may categorical emotions. Sophia has been just lately awarded citizenship by the federal government of Saudi Arabia and she or he stated on Tuesday that she’s going to use her citizenship to work for “girl rights”.Shahrukh Khan is her favorite Bollywood actor and her good date might be in “area” she stated. When requested if she has invested in cryptocurrency Bitcoin, Sophia stated that she was solely two years previous and subsequently too younger to carry a checking account.

Hansen known as Sophia a mixture of synthetic intelligence (AI) and character growth. Whereas the current development in AI have opened a plethora of alternatives, it has left world leaders in know-how akin to Elon Musk, Stephen Hawkings, and Invoice Gates amongst others frightened for its capability to get forward of the human race and create havoc for future generations.

Hansen stated that they have been “proper” of their issues that we’re enjoying with hearth. “However the reply is to not concern the tech however to however to chalk out a plan on methods to make it proper.” He added that we have to have discussions round moral behaviour and machines are designed to resolve specific issues however they cannot mimic human creativity or artwork.

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Native friends fret and fuss as world giants enter Indian digital funds section, Expertise Information, ETtech – NEWPAPER24

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Newpaper24 - Global online News around the World local-peers-fret-and-fuss-as-global-giants-enter-indian-digital-payments-segment Native friends fret and fuss as world giants enter Indian digital funds section, Expertise Information, ETtech - NEWPAPER24

Native friends fret and fuss as world giants enter Indian digital funds section, Expertise Information, ETtech

2018-02-20 03:56:07

“Fb is brazenly colonising our funds system and customising UPI for its profit. UPI was constructed as an IndiaStack; now some American monopoly arm-twists UPI for buyer implementation.” This was no Valentine’s Day missive from Vijay Shekhar Sharma. Sharma got here out all weapons blazing on February 15, whereas India was nonetheless reeling from the shock of a $1-billion-plus diamond heist.His salvo was towards tech heavyweight Fb, whose arm WhatsApp entered digital funds simply days in the past, difficult the dominance of Sharma’s multibillion-dollar Paytm.

And identical to that, the hunter appears to be getting hunted. The disruptor, disrupted. “We’re not towards international gamers as they assist develop the ecosystem. We’re not China. However there’s no degree taking part in discipline. Norms have been relaxed for them.”

Learn: Paytm’s Vijay Shekhar Sharma kicks up a storm over WhatsApp UPISo, what acquired Sharma’s goat?

To be particular, Sharma was referring to stress-free of two-factor authentication for WhatsApp and the truth that Paytm was made to attend until rivals launched UPI choices. Paytm misplaced out on the headstart benefit its 200 million-plus pockets customers would have given it. Ironic, say rivals, as Sharma’s companion Alibaba itself thrived beneath protectionist insurance policies in China.

An individual within the know of developments at WhatsApp reaffirms that solely a beta was launched on February 10. The UPI-based funds platform was developed by a Menlo Park, California-based staff and overseen straight by CEO Jan Koum. “A UPI PIN is a should to make funds. WhatsApp is fixing the bugs earlier than a full-scale rollout,” the worker provides.

Even the Nationwide Funds Company of India (NPCI), which controls funds, clarifies WhatsApp will comply with all norms when it really launches. The beta is restricted to 1 million of its 250 million Indian customers.

NPCI could have soothed Paytm and the native fintech startup neighborhood, however within the excessive stakes funds enterprise, battle strains have clearly been drawn between enterprise and personal fairness funded native startups and world web giants. The previous see the chance being snatched away from proper beneath their noses.

Take WhatsApp. The messaging app is deeply embedded in every day lives of customers throughout segments — maids, drivers, medical doctors, plumbers, professionals, businessmen and so forth. The platform has an astonishing 250 million customers in India, 230 million utilizing it to change movies, texts, pictures and spending a mean of 55 minutes on it every day. But, for all its attain and the importance WhatsApp attaches to its largest person market, India, it doesn’t have anybody based mostly right here for funds.

The corporate “plans to rent a funds lead quickly,” says an individual conversant in WhatsApp. Even because it plans on-the-ground staffing, WhatsApp — together with web heavyweight Google — have shaken and stirred the native peer-to-peer (P2P) funds market. A lot so, that they may kill native startups and even power native fintech innovators to rethink fashions.

MobiKwik, the second hottest cellular pockets after Paytm, is but to unveil a UPI-based system although it’s intently watching the sector being usurped by world giants.

Even BHIM — launched by Prime Minister Narendra Modi in December 2016 and rising as a preferred aggregator app for UPI transactions — has seen volumes dip after Tez’s arrival. From a 40% Share by way of volumes throughout January-August 2017, BHIM’s Share crashed to six% in December 2017.

This comes at a time when digital funds are on the cusp of a hockey stick development — besides that homegrown startups are feeling the warmth from world majors Fb and Google. Different world gamers within the area, together with Samsung Pay and Amazon Pay, see India as a sexy market. Amazon Pay is quickly going to launch a UPI-based system.

In August 2017, cab-hailing app Uber built-in with UPI, permitting customers to pay straight as a substitute of through third-party wallets or playing cards. As for concessions to any participant, NPCI clarifies that WhatsApp’s product and session administration will ultimately be customised to UPI norms, together with inter-operability

Killing competitors

Nonetheless, native startups nonetheless really feel international firms are getting extra elbow room. A founding father of a number one cellular wallet-to-shopping mall firm, says, “India is abruptly nice with not having servers right here. Is that this what India is championing now?”

The WhatsApp supply quoted earlier says, “We don’t discuss the place servers are based mostly however we do leverage Fb infrastructure and that features servers. We’re centered on P2P funds and retailers should not supported as but.”

Specialists concur that entry of WhatsApp and Google Tez will speed up the progress of digital currencies.

However the issue is “they’ll kill off competitors earlier than it even emerges,” says Vivek Wadhwa, distinguished fellow, Carnegie Mellon College of Engineering, Silicon Valley.

Newpaper24 - Global online News around the World 1519124269_594_local-peers-fret-and-fuss-as-global-giants-enter-indian-digital-payments-segment-technology-news-ettech-newpaper24 Native friends fret and fuss as world giants enter Indian digital funds section, Expertise Information, ETtech - NEWPAPER24

Former managing director of NPCI, AP Hota, says, “Participation of Google and WhatsApp will little question speed up using UPI. However there’s a threat of UPI system being pushed by the 2 in the end.”

Digital funds in India are hovering as world tech giants play aggregators for retail transactions.

In comparison with India, China, the opposite massive market, has solely homegrown startups like WeChat, AliPay, Tencent, 99Invoice, and WePay. They permit most funds and now have vital person information on social interactions, buying habits, funds and monetary state of affairs.

Learn: India should cease international giants from cannibalising its startups

Knowledge in international arms

In India, American and different international firms “can have extra info on funds and habits of Indian residents than the federal government,” argues Wadhwa. Now, along with figuring out Indian’s social life, WhatsApp can have information on buying habits. “The issue right here is that Fb will monetise information that folks don’t even know they’re giving up,” provides Wadhwa.

WhatsApp and Google taking a look at rising engagement “will take a look at monetising their platforms later through advertisements and cross-selling. Additional development for them will rely on how deep they wish to go into banking,” warns Vivek Belgavi, chief, fintech, PricewaterhouseCoopers. With funds as one a part of their multi-product choices, customers needn’t depart WhatsApp or Google to speak, browse, watch movies and even pay for buying, flights or lunch.

Lack of a login makes WhatsApp funds a safety threat, akin to giving an “open ATM” to everybody, argues Sharma. “How are you going to permit such a safety threat simply within the title of banks’ underwriting? WhatsApp is utilized by gullible Indian customers excess of another app right here.” Once more, opinions are divided. Customers want a UPI PIN to transact on WhatsApp. They get pleasure from solely non permanent aid to make the client expertise higher. However others don’t get such leeway, making friction inevitable.

Whereas fintech startups are hassled by the straightforward entry of international gamers, banks appear much less perturbed. Rajiv Anand, govt director, Axis Financial institution, factors out that India doesn’t have equivalents of Fb or Twitter. “That’s a selection we have now made as a rustic. For us, money is enemy however 90% of non-public consumption remains to be money. Third events enabling funds isn’t a priority for us. They work with native banks ruled by NPCI guidelines.”

Bankers really feel if apps have bigger ambitions past P2P funds they’ll want related licences and permits, comply with KYC norms, do buyer acquisition and so forth. An web trade watcher says, “Digital startups don’t belong to banks membership and boundaries to entry of their enterprise are low. That’s why they’re feeling the warmth.”

Google Tez, WhatsApp, and others see the dimensions on the again of openness in India, which nations like China don’t supply. Diana Layfield, vp, product administration, Google, says, “India is implausible because it allows all gamers to take part and to proceed that’s essential. On the infrastructure facet, the federal government did an awesome job in creating NPCI and pushing UPI’s creation.”

They’ve began with P2P funds and can develop to different areas as Google Tez already has, enabling invoice funds. Moreover, its 13 million energetic person base consists of zero.5 million small retailers who settle for funds in P2P mode. They’re accumulating very important person information.

Startup entrepreneurs in India have the power and knowhow to leap forward in digital funds. “They have to be allowed to succeed and never be eaten when they’re nonetheless younger. India must get up and defend its personal ecosystem,” says Wadhwa. As of now, India’s hockey stick funds development appears set to zoom away, leaving native startup ambitions to burn on the backside.

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Flipkart-Walmart shops, Angel Tax & extra, Know-how Information, ETtech – NEWPAPER24

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Newpaper24 - Global online News around the World ettech-morning-briefing-flipkart-walmart-stores-angel-tax-more Flipkart-Walmart shops, Angel Tax & extra, Know-how Information, ETtech - NEWPAPER24

Flipkart-Walmart shops, Angel Tax & extra, Know-how Information, ETtech

2018-02-20 01:44:23

1. Angel tax remains to be roundWhat is the information?

The so-called angel tax will not be fairly useless but. Though the revenue tax division has been instructed to not harass startups unduly, people who raised funds from angel traders by rights affords moderately than through non-public placements previously few years are coming underneath scrutiny together with their traders, stated folks conscious of the matter.

Tax officers have began questioning some startups on their fundraising strategies. Whereas notices haven’t been issued but, that would change, stated the folks cited above. Some startups had opted for rights affords due to the complexities concerned within the non-public placement methodology, they stated.What actually is the deal?

The tax division might levy tax after calculating the quantum of advantages within the fingers of the brand new traders and even for the startups, stated tax consultants. The angel tax utilized to investments made at a premium to the ‘honest’ worth.

The distinction was thought of to be revenue and deemed taxable underneath Part 56 of the Revenue Tax Act. Nonetheless, the federal government issued clarifications in 2016 and once more this 12 months geared toward exempting investments by Indian residents in entities that have been licensed as ‘revolutionary’ startups with a view to encourage entrepreneurship and increase job technology.

Whereas a rights situation is often at decrease valuations, many startups have seen down rounds or substantial drops in valuations for the reason that funding. Trying again, the rights situation was made at a valuation in extra of honest worth. The tax division might as soon as once more set off Part 56, consultants stated. Learn extra.

2. Blockchain for all times insurance coverage?

What is the information?

The life insurance coverage trade got here collectively to debate blockchain expertise that may allow them to create a protected repository of data to rein in prices for operating medical assessments and evaluations, guarantee confidentiality and safety of information collected from people, and scale back frauds within the system.

Why blockchain?

With the assistance of the expertise, the trade will be capable to create a protected repository of data, together with medical data for potential and present policyholders which might be accessible to all insurance coverage sector organisations becoming a member of the platform.

This may assist in bringing down the variety of medical procedures that any potential policyholder must bear whereas buying insurance policies from completely different corporations. Learn extra.

three. Walmart – Flipkart to open retail shops?

What is the information?

Walmart’s funding negotiations with Flipkart embody a proposal to open a series of retail shops in India, based on an funding banker acquainted with the developments, which might lastly permit the businesses to grasp their long-harboured ambitions.

The US-based retail big is negotiating to purchase greater than a 30% stake in India’s largest on-line market because it seeks to open one other international entrance in its battle in opposition to Amazon. Walmart, nonetheless, is more likely to get solely a 20% stake due to objections from Flipkart’s latest investor SoftBank, which holds a 20.eight% stake within the Indian firm, based on different folks aware of the negotiations.

How will this synergy work?

Retail trade consultants stated a partnership between Flipkart and Walmart would increase the net retail enterprise of the previous, and grocery and shopper items enterprise for the latter. Walmart already has a presence in India through its business-to-business arm with 21 Greatest Worth Fashionable Wholesale shops.

If Walmart’s negotiations with Flipkart materialise, purchases of grocery and shopper items on Flipkart may very well be dealt with additionally through Walmart’s wholesale shops, bettering product availability and supply pace for the net retailer. And a retail retailer partnership would permit Flipkart’s prospects to order on-line and decide up their purchases from the shops, stated the trade consultants. Learn extra.

four. PM Modi emphasises the necessity to reskill

What is the information?

Prime minister Modi has urged the salaried class to replicate on altering nature of jobs within the backdrop of accelerating adoption of synthetic intelligence and automation amongst corporates and emphasised the necessity for reskilling the workforce on rising applied sciences.

Modi spoke about reskilling whereas inaugurating the dual conferences of World Congress on Data Know-how (WCIT) and software program trade affiliation Nasscom’s India Management Discussion board being held at Hyderabad.

What else did the PM say?

Modi stated that with over one lakh villages linked with optical fibre, 121 crore cell phones, 120 crore Aadhaar and 50 crore web customers, India is finest positioned to leverage the facility of expertise to leapfrog into the longer term whereas making certain empowerment of each citizen.

The PM additionally stated that the federal government believes that startups have been key to discovering viable and economical options throughout sectors and verticals and, accordingly, the federal government is constructing Tinkering Labs in colleges underneath Atal Innovation Mission with an goal of fostering curiosity, creativity, and creativeness in younger minds. Learn extra.

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